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Pemex gasoline demand drops in Q2, COVID-19 recovery yet to arrive

Earnings 489 Energy - Conventional 384 Energy - Crude Oil 264 Energy - Refined Oil 185 Mexico 730 U.S. 4625

Pemex has reported a 51.8% year over year slump in sales as the state-owned energy firm deals with a collapse in energy prices, lower production and reduced demand due to COVID-19. Total Mexican exports of crude oil fell by 4.5% year over year in Q2 as improved shipments to the U.S. were offset by an 18.8% slide in exports to Europe in June. Sales of refined petroleum products dropped by 34.7% on reduced economic activity in Mexico during the COVID-19 lockdown. That drove a 56.2% slump in refined products imports in June compared to a year earlier while lower shipments in June versus May...

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